Net Loss per Share

12 Months Ended

Dec. 31, 2025

Net Loss Per Share Attributable to Common Stockholders

Basic net loss per share attributable to common stockholders is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares issued and shares to be issued under the commitment to issue shares, as these shares are issuable for no consideration.

Diluted net loss per share attributable to common stockholders adjusts the basic net loss per share attributable to common stockholders and the weighted-average number of shares issued and shares to be issued under the commitment to issue shares for potentially dilutive instruments.

The following data shows the amounts used in computing net loss per share and the effect on net loss and the weighted-average number of shares as follows:



(in thousands, except share and per share amounts)	2025		2024
Net loss attributable to Faraday Future Intelligent Electric Inc.	$	(390,696)	$	(355,847)
Less: Deemed Dividend	—		(7,576)
Net loss available to common stockholders	$	(390,696)	$	(363,423)

Weighted average shares used in computing net loss per share of Class A and B Common Stock:
Basic	124,299,591		18,529,525
Diluted	124,299,591		18,529,525

Net loss per share of Class A and B Common Stock attributable to common stockholders:
Basic	$	(3.14)	$	(19.61)
Diluted	$	(3.14)	$	(19.61)

The net loss per common share was the same for the Class A Common Stock and Class B Common Stock because they are entitled to the same liquidation and dividend rights and are therefore combined in the Consolidated Statements of Operations and Comprehensive Loss.

Potentially Dilutive Shares

The Company reported net losses for all periods presented, resulting in all potentially dilutive Common Stock equivalents being considered antidilutive and excluded from the calculation of net loss per share. The Company’s Series B Preferred Stock is not convertible into Class A Common Stock and does not participate in the Company’s earnings and, therefore, is not a potentially dilutive security under ASC 260.

The table below presents the potentially dilutive shares that were excluded from the computation of diluted net loss per share of Common Stock attributable to Common Stock stockholders due to their antidilutive effect:



	2025	2024
Shares issuable upon conversion of SPA Portfolio Notes	72,340,661	41,054,586
Shares issuable upon conversion of Unsecured Convertible Notes	5,153,894	749,866
Shares issuable upon exercise of equity classified SPA Portfolio Note warrants	12,907,897	15,238
Shares issuable upon exercise of liability classified SPA Portfolio Note warrants	3,129,648	16,720,384
Other warrants	5,776,657	5,776,657
Stock-based compensation awards – Options	2,263	2,591
Stock-based compensation awards – RSUs	6,095	161,225
Public warrants	2,453	2,453
Private warrants	12	12
	99,319,580	64,483,012